Claire Bushy, an FT reporter with deep insights into Boeing's financial turmoil, shares details on the company's $19 billion share sale aimed at avoiding a credit downgrade. She highlights the implications of Boeing's $6 billion loss and job cuts in the aerospace sector. Joining her is Taylor Nicole Rogers, who addresses the alarming challenges of recruiting poll workers in the U.S., exacerbated by threats and violence. Their discussion underscores a crucial moment in navigating corporate and civic responsibilities.
PwC's revenue decline in Asia highlights the impact of scandals on major consulting firms amid regulatory scrutiny and operational challenges.
The U.S. is struggling to recruit poll workers due to fears from threats, prompting jurisdictions to engage new volunteer demographics and enhance security.
Deep dives
PwC's Declining Revenues in Asia
PwC is experiencing a significant drop in revenues within Asia, reporting nearly a 6% decline in the fiscal year ending June. This decline can be attributed to two major scandals: one involving allegations of fraud concealment linked to the failed real estate developer Evergrande in China, and another in Australia where confidential government information was improperly shared by a tax partner. Despite these setbacks, the firm's global revenue still grew comparably to its competitors, indicating that while regional issues are impactful, the overall business may still find stability elsewhere. The situation underscores the challenges faced by major consulting firms in maintaining their market positions amid regulatory scrutiny and operational missteps.
Struggles in U.S. Poll Worker Recruitment
The U.S. is facing a notable shortage of poll workers, making the recruitment process for upcoming elections increasingly challenging. This difficulty stems from heightened threats and accusations of voter tampering that emerged during the 2020 election, contributing to a fear-driven reluctance among potential volunteers, historically comprised mainly of retired seniors. In response, several jurisdictions are expanding the criteria for poll workers, including initiatives to engage high school students as assistants and introducing increased security measures at polling locations. If these issues persist, the long-term effects could lead to reduced access to polling locations, ultimately disenfranchising voters and complicating the democratic process.
PwC’s business in Asia contracted sharply in the past year, Boeing announced a $19bn share sale to help avoid a credit rating downgrade, and Volkswagen plans a massive restructuring that includes shutting at least three German plants. Plus, fears of violence have left some US election boards struggling to hire poll workers.
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